Analysis
Multiple reputable sources cite the exact wording of Musk's remark during a SpaceX press event in September 2016, where he discussed the challenges of developing a reusable launch system. Video footage and transcripts from the conference confirm he used this phrasing. The quote has been reproduced in numerous news articles and interviews without variation.
Background
The comment was made while Musk was outlining SpaceX's long‑term vision for making space travel more affordable and reliable. It reflects his broader philosophy on tackling high‑risk, high‑reward engineering problems. The statement has been widely quoted in media coverage of SpaceX's milestones.
Verdict summary
Elon Musk did say, “When something is important enough, you do it even if the odds are not in your favor,” at a 2016 SpaceX press conference.